WHAT THE OTHER PAPERS SAY THIS MORNING April 12, 2010 FINANCIAL TIMES TOP CITY SKYSCRAPER FOR SALE Tower 42, the tallest occupied skyscraper in the City, will be put up for sale as booming prices return to London’s commercial property market. The 600ft former NatWest tower near the Bank of England is expected to fetch more than £300m ($461m) when its owners, Hermes Real Estate [...]
SABMiller is a FTSE beater April 11, 2010 LONDON listed SABMiller will aim to outperform the FTSE 100 index for the tenth straight year in 2010 and confirm its status as one of the best market-beating stocks around, according to financial website The Motley Fool. The South African brewer is expected to receive a boost from the football World Cup this summer and [...]
Poor performance among miners pushes FTSE down April 7, 2010 WEAKER miners and energy stocks, weighed by falling commodity prices, outweighed gains in defensive tobacco firms and drugmakers to drag Britain’s top share index down 0.3 per cent by the close yesterday. The FTSE 100 index ended 18.29 points lower at 5,762.06. Volume was thin as many traders extended their Easter holidays, with just 74 [...]
Delay for Rio BHP tie up April 6, 2010 AUSTRALIAN competition authorities have delayed approval of a joint venture between iron ore giants Rio Tinto and BHP Billiton until next month. The Australian Competition and Consumer Commission (ACCC) was expected to give the venture the go-ahead in February but then pushed the date to April. The latest delay is because the ACCC wants to [...]
EU is pushed to act on iron ore prices March 31, 2010 EUROPEAN steel industry body Eurofer urged European Union regulators to prevent unfair competition and excessive pricing of iron ore yesterday, saying it could hamper economic recovery in Europe. Eurofer said market concentration by three companies controlling almost three quarters of the world market had resulted in unbalanced pricing power and a high degree of market [...]
Miners cheer at prospect of higher prices March 30, 2010 ANNUAL iron ore fixed-price deals look to be teetering on the edge of extinction following BHP Billiton and Vale’s completion of a shorter quarterly contract with Asian steelmakers. The quarterly contracts were settled at $110-$120 (£72-79) a tonne next quarter, a substantial increase from the 2009-10 annual contracts, which were settled at around $60. Steelmakers [...]
Miners and Vodafone help FTSE 100 book gains as Carphone goes it alone March 29, 2010 BRITAIN’S top share index ended 0.1 per cent higher yesterday as gains in miners on the back of firmer metals prices and a stronger Vodafone outpaced falls in banking stocks. The FTSE 100 closed 7.64 points higher at 5,710.66 after falling 0.4 per cent on Friday. The index has gained more than 12 per cent [...]
Weaker dollar is behind the mining sector rally March 29, 2010 IT IS a sign of the optimism flooding the mining sector at the moment that Rio Tinto’s share price was able to rise yesterday even as a Chinese court jailed four of its staff for between seven and 14 years for taking bribes and stealing commercial secrets. The heavyweight miner was able to shrug off [...]
LISTED PRODUCT NEWS March 17, 2010 BASIC RESOURCES ETF OUTPERFORM Basic resource-related ETFs issued by ETF Securities saw fantastic performance last week as investors regained their appetite for risk. The ETFX Dow Jones STOXX 600 Basic Resources Fund rose by over 9 per cent last week and the ETF is up 130.9 per cent on this time last year. The ETFX [...]
Rio four spying trial this month March 17, 2010 The trial of four Rio Tinto staff charged with commercial spying in China will begin on 22 March in a Shanghai court, Australia’s foreign affairs department said yesterday. The four employees of the Anglo-Australian miner, including Australian citizen Stern Hu, have been in Chinese custody since July over accusations of illegally obtaining commercial secrets. The [...]